JOINT STOCK COMPANIES.

Southland Times, Issue 551, 31 August 1866, Page 3

JOINT STOCK COMPANIES.

Tbe principles that form the basis of Joint-stock Associations may be very applicable for the furtherance of industries and the development ' of mineral resources. They may, also, be of very useful application towards furnishing cities, with a plentiful supply of water for culinary and ablutionary purposes. But in their application towards forwarding journalistic ends, tbey are manifestly unsuitable, and even suicidal. Too many cooks spoil the broth, and too many directors and shareholders destroy tbe independence and mar the usefulness of newspapers. The more especially is this the case, if in limited spheres, and small cities, and sparselvpopulated districts, the quasi-leading politicians, solicitors, merchants, bankers, and schoolmasters, &c, &c.,&c., constitute tbe shareholders and directors, &c. In such cases tbe joint-stock newspaper rag becomes oracularly dumb and sensibly blind, is so far as the actions, sentiments, and eccentricities of those quasi-leaders of small and ill-conditioned villages and communities are concerned. The so called journalistic rag ceases to exercise any, the most infinitesimal influence on the people ; and even when it happens to speak the truth, hke the boy about the wolf, it is not believed. He that hath ears to hear let him hear, and he that hath eyes to see, let him apply these general truths to the community thus inflicted with the daily wtaddle of such an organ as is here pictured in vivid outlines. The presiding head of a journal worthy of reverence should be a very autocrat, responsible to no man or body of men ; he should take truth for his pole-star, and an enlightened conscience for his mentor; from whose decisions there should be no right of appeal, save to the tribunal of Heaven. The editor should be clothed in the robes of learning and righteousness, and should always write the truth, the whole truth, and nothing but the truth. — Saturday Review.